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Judicial Member Sanjay...

Business Loss on Wind Turbine Generators Capital in Nature: ITAT Upholds Disallowance of ₹10.42 Crore u/s 37 [Read Order]

Sandhra Suresh

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) upheld the disallowance of ₹10.42 crore claimed by Gujarat Energy Development Agency ...

No Misreporting, No Penalty: ITAT Deletes ₹7.40 Crore Levy u/s 270A on Gujarat Energy Development...

ITAT deletes ₹1.53 Crore Addition on Petrol Pump’s Demonetization Cash Deposits, citing Legal...

Non-Mention of Agents’ Names on Bills Not Sufficient to Disallow Commission: ITAT Deletes ₹20.4 Lakh...

Sales Tax Subsidy under Backward Area Development Scheme Classified as Capital Receipt: ITAT...

Depreciation on Goodwill Arising from Amalgamation Valid: ITAT Clarifies Prospective Effect of Finance Act Amendments [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad, has ruled in favor of the assessee on the issue of depreciation on goodwill, holding that depreciation is allowable on goodwill arising from...

Legal Heir Cannot Be Expected to Explain Unexplained Bank Credits of Deceased: ITAT notes AO fails to Verify Sources, Deletes Penalty [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) deleted penalty under section 271(1)(c) of Income Tax Act,1961, holding that a legal heir cannot be expected to explain unexplained ...

Gross Negligence of Accountant Not a Ground for Condonation: ITAT Dismisses Income Tax Appeal with 477-Day Delay [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed an appeal filed by a charitable trust with a delay of 477 days and ruled that gross negligence on the part of the ...

Total Income 100% Tax-Exempt if S.80P Deduction Allowed: ITAT dismisses appeal noting No Effect on Disallowances [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the appeal, noting that disallowances made by the Assessing Officer (AO) had no tax effect as the assessee was already...

ITAT Faults CIT(E) for Dismissing Fresh Applications on Procedural Grounds, Directs applications Filed Within CBDT Deadline to be Considered on Merits [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has set aside the orders of the Commissioner of Income Tax (Exemption) [CIT(E)] for rejecting fresh applications filed by the...

ITAT Sets Aside 80G Rejection, Cites Gross Violation of Natural Justice in Charitable Trust [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the rejection order passed by the Commissioner of Income Tax (Exemption), [CIT(E)], denying approval under Section...

ITAT Deletes Penalty for Non-Filing of Form 15CA as Rules Were Notified Late for Non-Taxable Remittances [Read Order]

The Surat Bench of Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed for failure to file Form 15CA on non-taxable foreign remittances, observing that although Section 195(6) of the ...